Posted on: November 15th, 2014 by The Accel Group | No Comments

Risk Management Overview

Risk management tactics or “Scenario Planning” is an important business practice that helps businesses predict the situations and risks that their business faces.

“Scenario Planning” is all about looking ahead and spotting opportunities and threats.  Successful risk management takes a proactive approach to reduce the likelihood or severity of some unknown occurrence that could prevent or seriously derail a business from fulfilling its mission.

Learn more about understanding risk and risk management.

Risk Management Solutions from The Accel Group

What obstacles and risks does your business or organization face?

The DISCOVERisk process from The Accel Group can help determine the obstacles and risks facing your organization.  DISCOVERisk was created to assist clients with risk identification, analysis and management. The non-insurance solution utilizes a variety of techniques to identify, measure and reduce business risk.  Throughout the process business owners are able to enhance performance and improve your financial position.

Basic Steps in the Risk Management Process

  • Identifying Risk: The first and most important step in the risk management process begins with identifying the risks or challenges of the business.  Identifying risk allows an understanding of the problems or issues that the company may face and begin planning to manage these risks.
  • Analyzing Risk: Once defined in the identification step, how is risk analyzed?  The risk management analysis includes data and research about the risks specific to the business and organization.  This analysis of data and research focused around your particular risks can then be used to form decisions and take action towards lowering risk.
  • Managing Risk: Once a business had identified and analyzed risk, they can begin to manage the risk they face.  Managing risk has many different components and this step allows businesses to plan, schedule and execute a risk management plan.

 

DISCOVERisk from The Accel Group can guide your business or organization through the entire risk management process.  Our experienced and professional team is equipped to mentor businesses while they identify, analyze and manage risk.

Searching for risk management insurance in Eastern Iowa?

The Accel Group also offers comprehensive risk management services to business owners in Eastern Iowa.  If your business needs to develop a new safety or insurance program or to enhance your existing risk management program, The Accel Group is committed to lowering your total cost of risk.  Begin preventing and controlling loss through risk management by contacting The Accel Group in Eastern Iowa.

For more information visit The Accel Group online.